We are seeing a global recovery in manufacturing – Increased hiring expected!
Posted by Bert Maes on January 7, 2010
- The US manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth.
- The US index of new orders, a signal of future production, jumped last month to 65.5 from 60.3 in November, the highest level in five years.
- CHINA”s manufacturing sector expanded at its fastest rate in 20 months in December.
- In EUROPE, a similar survey in the 16 countries that use the euro rose to a 21-month high
- A manufacturing index for BRITAIN rose to a 25-month high.
“What we’re seeing is a global recovery in manufacturing that will be more pronounced than the economic recovery as a whole,” said John Ryding, chief economist at RDQ Economics.
That could lead to increased hiring and job creation as manufacturers ramp up production.